Our latest insights

Following recent decisions made at the Australian Accounting Standards Board (AASB) meetings, we now have a very clear sense of what the final Australian Sustainability Reporting Standards (ASRS) will look like.

Businesses are increasingly recognising the importance of sustainable practices to safeguard our planet for future generations. However, as the demand for sustainable products and services grow, so does the prevalence of greenwashing – a deceptive practice where businesses falsely claim to be environmentally friendly.

Following the exposure draft legislation earlier this year, the Government has introduced a bill into Parliament to implement mandatory climate-related financial disclosure requirements.

The purpose of this Alert is to draw attention to the Climate-related financial disclosure: exposure draft legislation consultation (Draft Legislation) published by the Australian Treasury on 12 January 2024. This draft legislation follows Treasury’s second consultation paper on the subject (June 2023).

The Australian Accounting Standards Board (AASB) has released the exposure drafts of three proposed Australian Sustainability Reporting Standards: [Draft] ASRS 1 General Requirements for Disclosure of Sustainability-related Financial Information; [Draft] ASRS 2 Climate-related Disclosures, and [Draft] ASRS 101 References in Australian Sustainability Reporting Standards.

Explore the dynamic world of ESG (Environmental, Social, and Governance) and its influence on today's regulatory landscape. Learn about sustainability, transparency, and reporting requirements while delving into tax implications. Gain insights into how businesses approach ESG and discover emerging consumer trends in this Navigating the New Normal podcast episode.

With environmental, social and corporate governance (ESG) and sustainability front of mind for all organisations and reporting requirements on the horizon, it’s important to understand what tax obligations are at play. As the ATO focuses on transparency and governance, it’s important to ensure tax obligations are appropriately incorporated in policies, frameworks, controls, and these are tested to ensure that the business is operating in line with the Group’s tax risk appetite.